SEC Rules Content

On May 4, 2023, the SEC brought a settled enforcement action against a registered investment adviser and its part-owner and investment adviser representative (together, "Respondents") for alleged breach of the fiduciary duty of care and compliance violations under the Investment...

At ICI's 2023 Leadership Summit, SEC Chair Gensler delivered remarks which focused on fund dilution and liquidity and how it relates to financial stability, outstanding SEC rule proposals related to money market funds and liquidity risk management, hard close, and swing pricing, and...

On May 22, ICI submitted the attached letter supplementing our comments on the Commission's proposed amendments ("Proposal") to Rule 35d-1 under the Investment Company Act of 1940 ("Names Rule").

As we previously informed you, in March 2023, the SEC published for comment proposed rules that would revise Regulation S-P to require SEC registrants to provide breach notices to customers and consumers in the event such persons' non-public personal information is breached.

As we previously informed you, in March 2023, the SEC published for comment proposed rules that would require various registrants, including broker-dealers and transfer agents among others, to adopt and implement written cybersecurity risk programs.

We submitted a letter to the SEC today strongly recommending that the compliance date for any final Fund ESG rule1 not precede the compliance date for any final Public Company Climate rule.2 We pointed out that it would be irresponsible for the SEC to require environmental funds (i.e...

On May 3, 2023, the Securities and Exchange Commission (SEC or the "Commission") adopted a final rule amending Form PF, the confidential reporting form for certain registered investment advisers to private funds. Form PF provides information to the SEC and the Financial Stability...

On April 18, 2023, the SEC's Division of Enforcement announced that it charged, a registered investment adviser offering robo-advisory services with violations of the Investment Advisers Act and rules under the Act. These violations involved material misstatements and omissions...

On May 8, ICI filed the attached comment letter on the SEC's proposal on Safeguarding Advisory Client Assets, issued by the SEC on February 15, 2023. The SEC's proposal would amend and redesignate Rule 206(4)-2 under the Advisers Act rule as new rule 223-1 under the Advisers Act...

On April 20, 2023, the Securities and Exchange Commission ("Commission" or SEC) staff issued a third staff bulletin ("Staff Bulletin") providing guidance on the duty of care obligations under Regulation Best Interest ("Reg BI") for broker-dealers and under the fiduciary duty standard...